What is the current experience as far as NOO max LTVs? Assuming that all else is in order (full doc, scores, reserves, DTI, etc) what is reasonable to expect?
I have a customer who bought a couple of NOOs 2 and 3 years back, and now they are adjusting. Problem is, he did them as 8020s at that time, and my understanding is that the 100% NOO days have come and gone. Trying to do a damage assessment and see what can be salvaged. I don't suppose there's any chance of anyone subordinating his existing seconds?
Grasping at straws, I know.
Would be interested in the input of others as far as their most recent max LTV on an NOO.